Costa Rica Inflation November 2016

Costa Rica: Inflation stabilizes in November

December 8, 2016

Consumer prices were flat in November, after dropping 0.12% in October. According to the Statistical Institute, the result reflected higher prices in several categories, especially the food and non-alcoholic beverages category, which offset lower prices in transport.

Inflation remained stable at October’s 0.6% in November. Moreover, the annual average variation in consumer prices recorded a slight increase in November, inching up from a 0.3% drop in October to a 0.2% decrease.

FocusEconomics panelists see inflation ending 2016 at 0.9%, which is down 0.3 percentage points from last month's forecast. In 2017, the panel sees year-end inflation at 2.8%, which is unchanged from last month’s forecast.

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Costa Rica Economic News

In December, year-on-year growth in economic activity accelerated to the fastest pace in 10 months, increasing from a revised 3.2% in November (previously reported: +2.4% year-on-year) to 3.5%, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR).
December’s result was underpinned by increased activity in the services and manufacturing sectors.

Annual growth in economic activity increased from a revised 2.2% in October (previously reported: +2.3% year-on-year) to 2.4% in November last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Económica) published by the Central Bank of Costa Rica (BCCR).
Although November’s annual growth rate was the highest in three months, it was low by historical standards.